My understanding is that pips are the 5th digit in a price and points would be the 6th (1/10 of a pip)

However on Market Milk the change in a pairs range shown as pips, seems impossible to me. ie AUD/JPY today is suggesting 294 Pips. On MT4 and ATR (set to 1) I can only see 46 Pips.

can someone explain from the screen shot.

Thanks

Looking on the image you have:

67.107

**Pipettes**

67.10 is the usual price you would see but with additional point which is called Pipette you have one digit more.

Change from the 67.107 to 67.102 is change by the 5 pipettes.

If the price change from the 67.107 to 67.113 you would have 6 pipette change.

Pipette is 1/10 of a pip. So change in 5 pipettes means change by 0.5 pips.

**Pips**

If you have change from 67.107 to 67.117 you will have change by 1.0 pip or 10 pipettes.

**Now, the daily change**

**2.914**

This is daily change and represents 291.4 pips.

This is also 291 pips and 4 pipette.

Thanks for that, it clears up the confusion a bit.

If I want to know the range say between Sydney open and Tokyo close, on EUR/AUD, the best way is to use either the MT4 tool, or a direct calculation I guess. Is that a reasonable assumption?