USD/JPY prediction: traders brace for a Japanese yen intervention

The Japanese yen jumped sharply on Thursday as traders braced for a potential intervention by the Bank of Japan (BoJ). The USD/JPY pair retreated to a low of 160.62 from the year-to-date high of 162.84. US published weak non-farm payrolls data The USD/JPY pair retreated after the US published the latest non-farm payrolls (NFP) report. According to the Bureau of Labor Statistics (BLS), the economy created just 57k jobs in June, missing the estimated 114k. It also revised the jobs created in May from 172k to 129k. The report showed that the manufacturing sector created just 3k jobs, while the government payrolls fell from 32k in May to 8k in June this year. The only positive thing in the report…