What is a Pip?

What is a Pip?

A “pip” is the smallest price unit in any currency pair. For example, a movement from 1.5210 to 1.5211 in EUR/USD is one pip, making a pip equivalent to 0.0001. On the other hand, a movement from 105.35 to 105.36 in USD/JPY is also one pip, making a pip equivalent to 0.01.