You can add
\setlength\lineskip{3pt}
to stop the lines bumping so close together but either way the result is really horrible. There is \textstyle and \displaystyle for a reason. Forcing display style fractions in inline expressions will always lead to pain in the end.
The following shows the effect (I adjusted the text width to bring the j closer to the fraction as in the supplied image, the supplied code apparently breaks the lines in a different place)
The last version shows the requested result with the lines opened up even more to preserve the spacing between the fraction and the j but this is I think the least readable of the paragraphs.

\documentclass{article}
\parskip2\baselineskip
\advance\textwidth-22pt
\usepackage{nicefrac}
\begin{document}
Eu sit tincidunt incorrupte definitionem, vis mutat affert percipit cu, eirmod
consectetuer signiferumque eu per. In usu latine equide\textbf{j} dolores. Quo no falli
viris intellegam, ut fugit veritus placerat per. Ius $\displaystyle\frac{2}{3}$ id vidit
volumus mandamus, vide veritus democritum te nec, ei eos \textbf{tttttttt} conqueste
consulatu. No mei ferri graeco dicunt, ad cum veri accommodare. Sed at malis omnesque
delicata, usu et iusto zzril meliore.
Eu sit tincidunt incorrupte definitionem, vis mutat affert percipit cu, eirmod
consectetuer signiferumque eu per. In usu latine equide\textbf{j} dolores. Quo no falli
viris intellegam, ut fugit veritus placerat per. Ius $\frac{2}{3}$ id vidit
volumus mandamus, vide veritus democritum te nec, ei eos \textbf{tttttttt} conqueste
consulatu. No mei ferri graeco dicunt, ad cum veri accommodare. Sed at malis omnesque
delicata, usu et iusto zzril meliore.
Eu sit tincidunt incorrupte definitionem, vis mutat affert percipit cu, eirmod
consectetuer signiferumque eu per. In usu latine equide\textbf{j} dolores. Quo no falli
viris intellegam, ut fugit veritus placerat per. Ius $\nicefrac{2}{3}$ id vidit
volumus mandamus, vide veritus democritum te nec, ei eos \textbf{tttttttt} conqueste
consulatu. No mei ferri graeco dicunt, ad cum veri accommodare. Sed at malis omnesque
delicata, usu et iusto zzril meliore.
\setlength\lineskip{3pt}
Eu sit tincidunt incorrupte definitionem, vis mutat affert percipit cu, eirmod
consectetuer signiferumque eu per. In usu latine equide\textbf{j} dolores. Quo no falli
viris intellegam, ut fugit veritus placerat per. Ius $\displaystyle\frac{2}{3}$ id vidit
volumus mandamus, vide veritus democritum te nec, ei eos \textbf{tttttttt} conqueste
consulatu. No mei ferri graeco dicunt, ad cum veri accommodare. Sed at malis omnesque
delicata, usu et iusto zzril meliore.
\end{document}
$a/b$instead of$\frac{a}/{b}$or$\dfrac{a}/{b}$(the latter is the worst one). – Gonzalo Medina Nov 25 '12 at 0:18