# USD/JPY probes resistance at 104.94 as Japan's core CPI drops - Forex Crunch

> Japan's core CPI fell 0.3% year-on-year in September, its second consecutive monthly decline, signaling coronavirus-driven deflation. USD/JPY rose to 104.94 but met resistance and slipped back to 104.80. The US 10-year yield hit a four-month high of 0.87%.

- Date: 2020-10-23 · published 2020-10-23T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/50870-usd-jpy-probes-resistance-at-104-94-as-japan-s-core-cpi-drops-forex-crunch
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Weak Japanese inflation reinforces the case for continued easy policy and a weaker yen, which can support Japanese import demand for US feed in yen terms. The effect on grain prices is minor.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/10/23/usd-jpy-probes-resistance-at-104-94-as-japans-core-cpi-drops/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.