Recent analysis suggests the USD/JPY pair is in a consolidation phase, with its movement influenced by diverging factors. While the US dollar has shown strength due to safe-haven flows, expectations of a Fed rate cut have pressured it, causing it to diverge from falling US Treasury yields. The pair is holding a key support range, and a breakout in either direction could determine its next move. Technical indicators present a mixed picture, with some favoring a bullish outlook while others suggest a potential decline towards the 147.00 level.