Now that you know a little bit about the japanese language, you will find alot of words which are used very often in anime. So I made a little list for you.

Abunai - Careful! It's a warning for someone to look out.

Ai - Love

Arigatou - Thank you

Baka - Idiot

Bishoujo - Pretty girl

Bishonen - Pretty (usually girlish) man

Chibi - Little

Chotto - a little. "chotto motte kudasai" - please wait a moment.

Daijobu - ok, healthy. "daijobu ka?" - Are you ok?

Doujinshi - fan made manga.

Ecchi - nasty but not explicit hentai. used on a person it means pervert.

Hentai - explicit pornographic work, both in anime and manga form. Used on a person it just means pervert.

Hidoi - terrible!

Kanojo - Girlfriend

Kareshi - Boyfriend

Mahou - Magic

Otaku - Someone who's obsessed with something (not necessarily anime)

Shoujo - little girl

Sugoi - great, wonderful

Totemo - completely

Ureshii - happy

Yakusoku - a promise usually between childs

Yaoi - hentai /ecchi work with homosexual content between males.

Yuuri - Yaoi with girls instead

Next time when you're watching anime you can look out for these words.