Forex trading education - what are Pips?

Another important concept in the Forex market is PIPS – pip (singular), pips (plural).

In the Forex market the exchange rate rises by pips and falls by pips. For most of the currencies, the pips are denoted 4 places after the decimal point.

In other words, if the EUR/USD rate is 1.5220 then the number of the pip is 0.

If the exchange rate was previously 1.5520 and now it rose by one pip, the exchange rate will be 1.5521.

If the exchange rate fell by 10 pips, it would be 1.5210 and so on.

The Japanese Yen is different: for the Japanese Yen the pip is denoted at two places after the decimal point, meaning that, if the USD/JPY is at 88.57, then if it decreases by 27 pips the exchange rate would by 88.30.

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Average daily fluctuation 
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