# Pip

*Trading & Technical Analysis — Finicade finance glossary*

A pip is the standard smallest price move in a currency pair — 0.0001 for most, 0.01 for yen pairs. It's how FX profit, spreads and stops are all quoted. Its cash value depends entirely on position size: one pip on a standard 100,000-unit lot is about $10, which is how a market that moves fractions of a percent produces such large gains and losses.

**Also known as:** pips, basis point FX, tick

**Related terms:** [Currency Pair](https://finicade.com/glossary/currency-pair), [Lot Size](https://finicade.com/glossary/lot-size), [Bid-Ask Spread](https://finicade.com/glossary/bid-ask-spread), [Foreign Exchange Market (Forex)](https://finicade.com/glossary/foreign-exchange-market), [Basis Point](https://finicade.com/glossary/basis-point)

Source: https://finicade.com/glossary/pip