With the UJ action today, hitting 109.58 area seems more probable. This will be a good area to take profits or watch for a reversal.
Another scenario is we go past 109.58 resistance area and push for the weekly trendline near 112.
Monthly bar hasn't closed but it is already showing expansion. I this is a legitimate breakout into month-end, target would be around 1.18.
Weekly bar engulfed previous bars as we got whipsawed by pre FOMC drift the post FOMC trend.
I suspect we will soon see one of the strongest hourly trends on EURUSD the past few years.
When a breakout happens, target is around 8 to 10% Yuan devaluation. Chinese goods could use a 10% devaluation. I find their goods relatively high priced compared to similar quality goods around East Asia.