USDJPY 4HR Descending Channel To Be Broken

USDJPY dips below 108 today which is an important level in the short term. The 4-hour chart is showing us that the descending channel could break higher before testing major support.

The levels we must watch in mind are the following: 106.937, 108.168 - 108.585, 109.250

Note: This would be in the event that the ascending channel is broken

What do we have here?
✔️ Bull Flag Formation and Descending Triangle
✔️ USDJPY- Near Major Support Level

Thank you, Connor,

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