GBPJPY Weekly Chart from 27 July to 31 July

GBPJPY Weekly: Validated ABCD  made successful retracement about 38.2% of AD (technically initial target hit) then seller gained no strength to go lower results in hammer and followed by inside bar candlestick with volume slightly rising with churning it suggests that we should patiently wait for confirmation. Looking for long to follow the main trend if price breaks above inside bar, and vice versa for counter trend short.