USD/JPY Faces Uncertainty After Japanese Yen's Brief Respite

The USD/JPY pair has held onto its three-day recovery move near 157.80 during the European trading session on Thursday.

This recovery comes as the Japanese Yen faced profit-booking after a significant jump last week, following the United States-Japan joint intervention to counter excessive volatility and disorderly movements in the yen.

Financial markets expect the Japanese currency won't be able to sustain US-Japan joint intervention-driven strength unless it gets a boost from structural changes in the domestic economy.

Japan Finance Minister Satsuki Katayama confirmed earlier this week that Japan 'won't hesitate to carry out more forex intervention with the US'.

Investors are shifting their focus to the US Nonfarm Payrolls data for July, which will be released on Friday.