The Foreign Exchange Rate

In the international market, the Foreign Exchange rate is demonstrated by five numerals, for example: 

EUR/USD 1.2653
USD/JPY 107.65 
GBP/JPY 195.03 

The Exchange Rate Change

The exchange rate smallest change for the final figure (is 1 pip), for example: 

The EUR/USD smallest change is 0.0001 
USD/JPY smallest change is 0.01

Quoted Price

All quoted prices can be divided into direct quoted price and the indirect quoted price, for example:

The direct quoted price currency includes: EUR/USD, GBP/USD, AUD/USD, NZD/USD ...... 
The indirect quoted price currency includes: USD/JPY, USD/CHF, USD/CAD ....

For example, the EUR/USD quoted price is 1.2653, which means each euro could convert to 1.2653 US dollars, while the USD/JPY quoted price is 107.65, which means that each US dollar could convert to 107.65 Japanese Yen, the EUR/USD quoted price general demonstration is 1.2652/57, which means the broker house is willing to buy Euro dollar at the price of 1.2652, and sell at the price of 1.2657.