That MSI R7 370 4Gb is is your graphics card. I mean the driver for the monitor
here under the Support tab.
Also check under the control panel for your graphics card to see if the refresh rate is limited to 120Hz.
If all is as it should be maybe the HDMI cable you have cannot support over 120Hz. There are some HDMI cable sold as 'high speed' which apparently can support 144Hz without a problem.
Anyway I'd suggest you check with a good quality DP cable.
On a relatively off topic note, that card has a DP port I think and can theoretically support 144Hz refresh rate, however, I don't think you can get the frame rate in modern AAA games without lowering the graphical settings to the minimum.