TOKYO (AFX-ASIA) - The dollar turned higher in midafternoon trade on short-covering by foreign investors after the market confirmed strong support for the US currency at below the 119 yen level, dealers said. Earlier, the dollar was pushed to below the 119 yen level following further sharp falls on Wall Street Friday, combined with selling pressure from Japanese exporters along with the unexpected rise this morning on the Nikkei 225 index, they said. "It is difficult to immediately retest the dollar's upside now that concerns over the prospects for the US economy and markets have re-emerged following the release of weak economic data there," said Naoya Kozu, foreign exchange dealer at Hachijuni Bank. US nonfarm payroll employment rose a slight 6,000 in July from June, compared with expectations for a much larger increase of 60,000. "However, it is also hard to think the dollar will keep falling beyond the 118 yen level as the market lacks strong trading energy given the summer vacation period" when many investors are away for holidays, Kozu said. "On the top-side, the unit is likely to see strong resistance at around the mid-120 yen level." News that Taiwan President Chen Shui-bian has decided to call for a referendum on the future of the island failed to have any material impact on forex trading locally, dealers said. The euro was confined to narrow trading ranges due to a lack of active follow-through buying, dealers said. "But the market seems to have already confirmed strong downside support for the euro near the 0.970 usd level," Kozu said.