A pip (short for “percentage in point”) is the smallest unit of measurement in Forex trading, used to express changes in currency pair prices. Typically, a pip represents a movement in the fourth decimal place for most currency pairs (e.g., 0.0001). For example, if the EUR/USD moves from 1.1050 to 1.1051, it has moved 1 pip. However, for currency pairs involving the Japanese yen (like USD/JPY), a pip is the second decimal place (e.g., 0.01). Pips are important for measuring price fluctuations and calculating profits or losses in Forex trading. The value of a pip depends on the currency pair being traded and the size of the position. #firstdealofthenewyearFateema