• USD/JPY edged higher on Thursday as market digested Fed rate decision and awaited Bank of Japan's policy decision on Friday. • Attention now shifts to the Bank of Japan's policy decision on Friday, where markets broadly expect the central bank to keep rates unchanged while maintaining a relatively hawkish tone on the inflation outlook. • The Bank of Japan is expected to leave its policy rate unchanged at 1.0% on Friday after raising rates in June. • Immediate resistance is located at 164.02 (23.6%fib), any close above will push the pair towards 164.32(Higher BB). Recommendation: Good to buy around 163.40, with stop loss of 161.50 and target price of 163.90