Answer
Yes, you can disable link up and link down traps in the interface configuration. To disable the traps, use the no-traps statement at the [edit interfaces interface-name unit logical-unit-number] and [edit logical-systems logical-system-name interfaces
interface-name unit logical-unit-number] hierarchies for physical and logical interfaces.
(traps | no-traps);
For more information, click SNMP MIBs and Traps.