The setup offers a great risk/reward ratio, so I wouldn't hesitate to take it.
Target is the completion from the top to the current sideways range, but it will probably offer plenty of shorter term opportunities to scale in and book partial profits along the way.
As long as price is above 128.834, we can expect to hit the dark red square.
There'd be an uptrend timer running if today stays above the highest low level, so I'll wait until that expires or is invalidated by either not reaching the target on time or crossing down below 128.834 to short this pair again.
RgMov shows there's resistance ahead, and room before reaching a new 2 month high (which would change the bias to bullish).
Weekly offers little clues...when your multi-week short target is reached in one week, there is a high probability reversal chance, and that's what's going on right now.
Daily shows a strong bullish reaction, we need to wait to continue shorting this pair, or chance stance if the weekly mode is retested above.