Most "blinker" systems are resistance based. Any change in the resistance of the circuit can stop the entire system. Since your failure stopped the Left and Right indicators at the same time, the fault most likely lies in the delivery of pulsing supply voltage to both Left and Right. (IOW, it's highly unlikely both L and R sides failed at the same instant.)

Check these points with a VOM or simple test light (and in this order)....
• DC power into the flasher unit
• Pulsing power out of the flasher unit
• Pulsing power at the connector from main harness to handlebar switch cable
(Not sure if your model still used the colored circuit board in the rear of the head lamp shell or not. Use of the board would require looking for power going into the board and then another test coming out of the board.)
• Pulsing power at the handlebar switch

Hope this helps.

Thank you for your helpful information. However, a bit more help is needed. I removed the flasher unit and determined that I do have DC power into the flasher unit using a test light. I am unable to determine how to test for pulsing power out of the flashing unit. I connected a hot wire from the battery directly to the spade labeled 49. I then tried connecting a wire from each of the other spades (31 and 49a) to the negative post on the battery. No action. What am I missing here? Is another connection required, such as to the third spade? I did purchase another flasher at the auto supply and found it to not work as well.

As you can tell you are dealing with a neophyte here. Your help is appreciated.

I removed the flasher unit and determined that I do have DC power into the flasher unit using a test light. I am unable to determine how to test for pulsing power out of the flashing unit.

All you need to know is this...
► 99% of the wires within the harness, except for the BROWN wires, already have 12V battery power in them for some purpose. Brown is the harness color for "battery return", or what most novices call "ground".

► So you really don't need to run ANY wires from the battery. The most you can do with this method is blow fuses, which is counter productive to your task.

► The best test tool for this job is a simple "electrical test lamp". To test for the presence of battery power, simply connect the single wire from your test lamp to any Brown wire, cylinder head fin, or the Neg (-) battery terminal. Then anytime the "ice pick" probe finds battery power you will see the test lamp light up.

• You have battery power at the flasher unit as soon as the ignition switch is turned ON. That wire should be Green/Blk. Good.
• The best way to test the flasher is to simply by-pass it. Set the handlebar direction switch to Left or Right. Unplug the power lead into the flasher unit (Grn/Blk) and connect it directly to the output connector of the flasher unit (Green/Yell). If the direction signals light up solid ON, then flasher unit is failing to produce pulsing power. Get another flasher unit.
• If nothing happens with the direction indicators, then exercise the handlebar switch to make sure.

Re-install the flasher unit and move on down the circuit.

• Look for battery power along the Green/Yell wire by searching for it. This wire will plug into the Grn/Yell handlebar switch wire either under the tank or inside the headlamp. When you find that connector, insert the probe into both sides of the connector to make sure power both enters and exits the connector.
• If battery power is going up to the handlebar, the only remaining thing is the bar switch itself. You can buy a new one or disassemble and try to fix it yourself.

Good luck.

Unless mistaken, my problem is the switch. I come to this realization after conducting the diagnostic steps you provided, with some modifications:
1. Power was found at the flasher unit with the key on. A test lamp was connected to the spade labeled #49 and negative.
2. I tried to test the flasher by simply by-passing it and got no action, no lights.
3. I did a continuity test (key off) on the green/yellow wire running from the flasher receiver where the #49a spade is inserted to where a wire connects to the switch and had continuity.
4. I next bypassed the switch and ran a probe from the green/yellow wire to each of the wires leaving the switch and going to the right and the left lights. They flashed. leaving me to think that the switch is faulty.
5. I don't see how to get into the switch assembly to attempt to make a repair. It is a plastic assembly that I fear I would damage beyond repair any attempt to open it up.
Looks like an expensive replacement is in store.

Thanks for your help.

You got it. Test number 4 cinched it. Now to apply for a bank loan for a new switch.

Typically these switches are not part of the lever or throttle assemblies. They are attached by small, well hidden screws on the underside of the plastic switch itself. This screw is so cleverly concealed that the switch looks to be part of the lever assy until the screw is withdrawn and the switch separates. The "switch" includes the plastic handlebar housing and the harness that climbs the handlebar to the lever assy.

Typically, when the switch is removed, small 2mm screws will be exposed on the inside that can be used for further disassembly. However, these units are typically packed with small springs, ball detents, etc. So disassembly of the switch should be done under bright light on the dining room table.

Hope this helps.