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Answer:
Hmm, let's clear things up a bit. You are correct in saying that 1 pip of USDCHF is equal to 0.0001 and 1 pip of USDJPY is 0.01. But PIP VALUE means a whole other thing... A pip is the last decimal place of a quotation. As each currency has its own value, it is necessary to calculate the value of a pip for that particular currency. For instance, let's assume that USDJPY is currently at 95.50. One pip would be 0.01 but its pip value is calculated by dividing 0.01 by the exchange rate which is 95.50. So the USDJPY pip value is currently at 0.000104712. You might want to check out the BabyPips School of Pipsology for other examples... I provided the link below.
