Hi guys, i am a newbie so i have notice the ATR indicator is different for yen pairs. other pairs you can read them easily on how many pips they moved averagely.
for example: EURUSD on 14 period daily chart is 0.0070 which means 70 pips.
on the other hand USDJPY on 14 period daily chart is 0.5990 so how many pips is it?
also GBPJPY is completely different on 14 period daily chart it is 1.3402 so how many pips is it as well?
i really would appreciate it if you can help.
Most forex pairs have a pip as the 4th decimal place of their exchange rate - so 0.0001 is 1 pip of EUR/USD, etc…
JPY pairs are different and the 2nd decimal place gives the pips, so 0.01 is 1 pip for USD/JPY. Therefore an ATR14 value for USD/JPY of 0.5990 represents 59.9 pips.
Likewise, the GBP/JPY pip value in 1.3402 is 134.02 pips - a massive value, which might explain why GBP/JPY is sometimes nicknamed “The Beast”.
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Thanks it makes sense now.