There are fixed and floating values for a pip depending upon the currency pair. When the USD is on the right side of the pair (EUR/USD, GBP/USD, AUD/USD, and NZD/USD) the pip is value is fixed at $1.00 per 10,000 currency units. This is a fixed pip value. When the USD is on the left side (USD/CHF) or the currency pair is made of two foreign currencies (EUR/JPY), the pip value floats or changes compared to the daily exchange rate fluctuation. An approximate floating pip value of the USD/JPY per 10,000 units of the base currency is $0.85.
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