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USD/JPY pip value calculator

1 lot = 100,000 USD. One pip is 0.01, because the yen is quoted to two decimals. On one lot a single pip of USD/JPY is worth $6.67 at a price of 150; on 0.10 lot it is $0.67. Enter your size and the tool does the rest — and shows the arithmetic, so you can check it.

$6.40

for 1.00 lot

Show the working +
  1. One pip is 0.01 of price, and one lot is 100,000 USD.
  2. 0.01 × 100,000 = 1,000 JPY per lot.
  3. Converted at 156.234: 1,000 ÷ 156.234 = $6.40 per lot.
  4. $6.40 × 1.00 lots = $6.40.
  5. The price IS in the sum, which is why this value moves as USD/JPY moves.

Reference prices in the text are round teaching numbers; the calculator prefills our last stored reading, indicative only. Contract sizes follow the standard conventions printed above the calculator; your account’s own specification is what applies. Nothing here is a recommendation.

The sum for USD/JPY

Pip value = pip size × contract size × lots, converted to USD at the current price. For USD/JPY: 0.01 × 100,000 × 1 = $6.67 per lot at 150.

Because USD/JPY is quoted in JPY, the pip is first worth 1000 JPY and is then converted to dollars at the current price — so the value moves as the price moves. At 150 it is $6.67; at a different price it is different.

What to do with it

Multiply your stop distance in pips by this number and you have the stop in dollars. A 30-pip stop on 0.50 lot of USD/JPY is 30 × $3.33 = $100.00. If that is more than you meant to risk, the size is wrong, not the stop. The position-size calculator turns this around and gives you the size from the risk.

Common questions

Is a USD/JPY pip always $6.67 a lot?
No. It is $6.67 at a price of 150; because the quote currency is JPY, the dollar value changes with the price.
What is a pip on USD/JPY?
0.01 — the second decimal place of the quote. The 3th decimal the platform shows is a point, a tenth of a pip.

Same tool, other instruments

The numbers behind every symbol are on the contract specifications page; the forex cost guide adds spread, commission and swap together; and the market hours page says when it trades.