Currency traders, while very much focused on the words and actions of Central Banks will also be aware of other ’events’. The state of emergency in the Philippines, and the apparently deteriorating situation in Iraq, being just two that could suddenly become centre of attention for the forex markets. The Japanese Yen maintained its gains after Bank of Japan Governor Toshihiko Fukui today told parliament conditions for a change in policy are ``being met,'' indicating the bank may cut the amount of money it pumps into the economy, a precursor to raising interest rates. The next Central Bank meeting is on March 8 and 9. The release later today of the notoriously volatile Durable Goods Orders data is unlikely to move the markets given the focus on Central Bank policy. The Japanese Yen is sitting on good support at the 116.65 with the next target for traders at 116.10. Any move above 117.30 is likely to put US Dollar bulls back in control. The fx markets are looking to strengthen the European currencies with the Euro still looking to test the resistance at the 120.00 level. The British Pound needs to confirm its strength by testing 1.7600 and the Swiss Franc traders would like to test 1.3000 before the weekend.