EURJPY - Bearish Bias

EUR - BEARISH
1️⃣ In order to curb the recent surge in cases, Germany will implement a strict five-day lockdown around Easter and expand its wider measures through April 18. Concerns about the virus's comeback are spreading across the European Union.
2️⃣ Sluggish growth for the eurozone in 2021 as governments grapple with rising coronavirus cases and a slow vaccination campaign.

JPY - BULLISH
1️⃣ The BoJ explicitly said Friday it will allow long-term interest rates to fluctuate in a wider band. The bank also removed a 6 trillion yen ($55 billion) annual target for buying exchange-traded funds while maintaining a ceiling of 12 trillion yen in a move designed to allow yields to fluctuate more and breathe life back into a market made dormant by the BOJ’s dominance.
2️⃣ Local media reports said Japan will use JPY 2.17 trillion in reserve funds for fiscal 2020 to financially support businesses and households suffering from the prolonged impact of the COVID-19 pandemic.
3️⃣ Risk-off tone supported the safe-haven JPY.

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Technical
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We are looking to sell the EURJPY at SBR + below SMA 50 on the H1 chart.

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Risk to this trade
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Any change in sentiment could turn the pair's direction.