Pip
The smallest standard price move in a currency pair.
What is Pip?
A pip (percentage in point) is the smallest standard unit of price movement in a foreign-exchange pair, equal to 0.0001 for most pairs or 0.01 for pairs quoted in Japanese yen. Traders measure gains, losses, and spreads in pips. The cash value of a pip depends on the pair, the position size, and the account currency.