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The Japanese Yen is the third-most-traded currency in the Forex market after the United States dollar ($; USD) and the euro (€; EUR) Symbolized by "¥" and under the code JPY, it is an international reserve currency
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PIP: The smallest price change that a given exchange rate can make Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point A common exception is for Japanese yen (JPY) pairs which are quoted to the second decimal point
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