Interactive Market Course.
A pip is the minimum possible price change of a financial asset. For currency pairs, this is usually the fourth digit after the decimal point. The exception is the Japanese yen: in a pair USD/JPY, a pip is a change in the second digit after the decimal point.
This is how pair quotes are displayed:EUR/USD=1.0733GBP/NZD=1.9502USD/JPY=119.968