How is pip value calculated?

Pip value = pip size × contract value per lot × lots. For EUR/USD one pip on one lot is about 10 USD.

Does it work for USD/JPY?

Not directly. Non-USD quote currencies need a conversion, and the page states that limitation.

Get the App

These calculators need JavaScript. Enable it and reload the page.

PIP VALUE

Pip value = pip size × contract value per lot × lots. One pip (0.0001) on one EUR/USD lot is about 10 USD; gold uses the second decimal.

For USD-quoted instruments. Non-USD quote currencies (e.g. USD/JPY) need a conversion. Your broker's contract specification wins.