TOKYO -- The dollar remained firm in Tokyo in range-bound trade Tuesday morning, with investors looking for new leads to move the market, dealers said.

The greenback traded at 119.16-19 yen at 11:00 am (0200 GMT), up from 118.47 yen in New York Monday afternoon. Financial markets were closed in Tokyo on Monday for a national holiday.

The euro bought 1.1314 dollars and 134.89 yen, compared with 1.1354 dollars and 134.45-55 yen on Monday afternoon in New York.

"The dollar remained firm in line with dollar-buying sentiment last week, but the market has lost its direction," said Hideyuki Tsukamoto, a dealer at Mizuho Bank, AFP reported.

The dollar gained by one yen last week to 118.95-98 yen last Friday in Tokyo as investors bought back the US currency following a series of encouraging results of economic indicators.

"I would say the dollar could touch 120 yen anytime in the near future," Tuskamoto said.

"But a further rise above that level is unlikely for now as dollar-selling orders have already built up at that level," Tsukamoto said.

Mitsuru Sahara, vice president of foreign exchange at UFJ Bank, said: "Concerns over Japan's yen-selling intervention have subdued as 119 yen is out of a warning range.

"Trading is expected to remain in a tight range for the rest of the day unless we can see fresh elements to stimulate the market," Sahara added.