Tick chart for USDJPY, showing each change in the ask or bid price. (If the spread is very tight then the lines may overlap, and only the ask line may be visible.)
As well as a plain tick chart, you can use the "Tick speed" mode to add an indicator showing how long it has taken for the last N ticks to happen. The lower the histogram, the faster the market is moving.
The "Timed" mode still shows each change in the ask or bid price, but the X axis of the chart is set to constant units of time. You can use this to view individual ticks while still being able to distinguish between fast and slow periods in the market.
The "Candles" mode draws tick candles. These are candles which form each time that N ticks happen, rather than being time-based.
The USDJPY (or US Dollar Japanese Yen) currency pair represents American (from United States of America) and Japanese economies. Japanese Yen has a low interest rate and is normally used in carry trades. This is the reason why it is one of the most traded currencies worldwide. In this pair the US Dollar is the base currency and the Japanese Yen is the counter currency. The interest rate differential between the Federal Reserve (FED) and the Bank of Japan (BOJ) affect the value of these currencies. This pair is also known as trading the "ninja" and belongs to the group of 'Majors', the most important pairs in the world. Other currency pairs in this group also include the following currency pairs: EUR/USD, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD.