• BoJ rumored to intervene in FX markets, but no official confirmation.
• GBP/JPY slowly drifting higher after 700-pip tumble this week.
• Data remains thin for both the UK and Japan this week.

GBP/JPY is grinding its way back up the charts on Tuesday, testing chart territory north of 197.00 after the pair got knocked down from 34-year highs at 200.60 earlier this week. The pair settled near 193.75 and now bidders are returning to the fold, propping up the Guppy despite ongoing rumors that the Bank of Japan (BoJ) directly intervened in FX markets on behalf of the beleaguered Japanese Yen (JPY).