Trade Ideas/USD/JPY

Obama re-elected, now what? I’m selling USD/JPY

For me the obvious trade is to be short USD/JPY so I’ve taken a small position at 80.00 and will see how it develops from here. The market is long according to this morning’s Prime Brokerage reports and I’m guessing that many of these trades were put on in expectation of a Romney victory. I don’t see much upside from here but best to wait and see how the next few hours unfold.

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