- 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.
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.
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