Student's Question: Is it true for all of the currency pairs that the 5th place is a tenth of a pip? If not, where can I find out which place is a whole pip for each pair? Thanks for the clarification. Instructor's Response: The only exception would be on the JPY pairs. On each of those pairs the third place to the right of the decimal is the fractional pip. In all other pairs, the fractional pip occupies the fifth place to the right of the decimal. Check the graphic below for an example of each type of pair. The fractional pip in each example is inside of the red box.

Also, you may find the link below to be helpful as it will take you to Daily FX for Beginners and a more detailed overall explanation of Pips.

http://www.dailyfx.com/forex/education/learn_forex/the_basics/making_a_forex_trade/2/2009-10-14-0011-What_is_a_Pip_.html