USDJPY has broken down from its local flag pattern and could head lower in the short-term. However, at the moment it has bounced from the bottom of its main channel. Thus, we have 2 highly probable setups:
1. Price retests the previous (dotted) trendline and fails, bouncing back down and then breaking the yellow flag pattern
2. Price breaks the yellow flag pattern and heads towards a former trendline support level.
Enter trades upon breakout confirmation, otherwise trade is invalid.