CHF/JPY Price Analysis: Bulls seek break fo H&S neckline

• CHF/JPY is building a case for the upside. 
• Bulls will need to break 4-hour resistance, then a daily H&S neckline. 

CHF/JPY is holding at critical daily support and a confluence of the 61.8% Fibonacci retracement level.

Eyes are on the upside resistances and the following illustrates the bullish bias. 

Daily Head & Shoulders in the making?

Daily chart prospects

The price has met a 61.8% Fibonacci retracement level and a confluence of the near-term daily support structure.

A break of the neckline of 120.80/00, will open prospects of an upside continuation to target the prior lows near 121.50 and 121.95.

4-hour chart

Bulls will be concerned for a high volume node, prior support and resistance level just above the 120.03 level.

A break there will leave them in good shape for an upside continuation over the coming days, especially on a break of the H&S neckline.