What do pips indicates in Forex?

or:What do pips indicates in Forex?or:Generally the fourth decimal in a currency pair quotation, e.g. in EUR/USD 1.2478 the figure 8 is equal to 8 pi

or:What do pips indicates in Forex?

or:Generally the fourth decimal in a currency pair quotation, e.g. in EUR/USD 1.2478 the figure 8 is equal to 8 pips. In some 'high' currency the pip is related to the 2nd decimal. Eg. in USD/JPY 120.26 figure 6 equals 6 pips

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