to read quotes.
The rates are usually expressed as
five-digit numbers. For example, USDJPY = 121.44 means that
1 US dollar is valued at 121.44 Japanese yens (i.e. they are
willing to pay you that many yens for one US dollar while
you are buying or selling). At the same time, GBPUSD = 1.6262
means that 1 British pound is valued at 1.6262 US dollars.
Generally, if the rate XXXYYY = Z, it means that one unit
of XXX is worth Z units of YYY.
When the rate has changed, for example USDJPY = 121.44 to
USDJPY = 121.45 or GBPUSD = 1.6262 to 1.6263, they say that
the rate has moved 1 point. As it follows from the information
above, yen in this example has DEPRECIATED by 1 point, but
the pound has APPRECIATED, also by 1 point.
While watching the charts, you should keep in mind that only
euro (EURUSD), British pound (GBPUSD) and Australian dollar
(AUDUSD) charts reflect real movements of the rates of these
currencies (that is, chart going up, means increasing price),
as growth (that is, charts moving up) mean decreasing rates
(prices) for the other currencies.
Sometimes quotes are given as a pair, for example 121.44/49.
It is a BID/ASK pair: the first number is BID, then the two
last figures of ASK. Knowing that ASK is always higher than
BID and that the spread is under 100 points, the full ASK
real prices can always be defined. In this example ASK = 121.49.