120 is way too small. IMO 180 is a good limit. We're not on 800x600 screens anymore
Some languages are just naturally worse at this (eg. Java), so there is always some flexibility. But for most languages that don't have multiple levels of indentation by default and the custom of overly long names, 120 is more than enough to be a good guidepost.
Long lines are less readable and I want to have several terminal panes or editor windows side by side.