The dollar has managed to cool the momentum of the Japanese yen and halt the strong downward movement. However, this is likely only temporary. The decline is presumably impulsive, with the formation of wave 3 currently complete. Thus, the pause and the observed rebound are corrective in nature and represent wave 4.

If this is indeed the case, it will take some time for the formation of this wave to develop further. Then, the downward movement is expected to resume, and the current local low will be updated.

In this regard, it is recommended to either observe the situation from the sidelines or cautiously sell in anticipation of the development of the final wave 5 of the downward impulse.

Recommendations: Sell at 153.60, SL at 153.85, TP at 152.00.