A head-and-shoulders isn't really one until we break the neckline. And that is definitely the case with the EUR/JPY in the next 24 hours. However, the setup is great in case the FOMC comes in a little more hawkish than expectated.
What "should" happen is the stock market may see some downside pressure and EUR/JPY could fall as a result. The 124.40 level is the neckline and that is important for bulls to hold. If you are bullish, EUR/JPY, being long near the neckline with a right risk-versus-reward (stop) makes sense as well.