Hi ante,
You have purchased a very nice and powerful gun. What kind of fishing are you planning to do with your 120?
I have an Urukay 105 and an 120 and my preferred set up for both include using 8mm shafts (or 7.5mm at a minimum since 7mm is way too light for this gun) and three 16mm bands.
The thicker shaft will allow for increased penetration at longer distance (or 5 meters plus range), which is the type of shot this gun excels in. The three 16mm bands are way easier to load than two 17,5mm bands and provide more power for longer distance shots.
For the 120, the size of the 8mm shaft I use is 160cm. The length of the bands should be around 65cm. I use dyneema cord for the wishbone and prefer to use a shaft with full tabs to load the wishbones to (see photos for reference). If you are in the U.S. or have access to Riffe products, they make a good 5/16 (8mm) euro shaft for the Urukay. The size you would want in inches is 63 inches. For my guns I use a South African spring steel shaft sold by Florida Freedivers (see photos).
I always setup my guns with mono shooting line, and for the Urukay I use 2mm mono shooting line and would not think of shooting this gun without double wrapping the line. For the reel line, any dyneema line around between 1.8 to 2mm in diameter would do. Just note that after you install it in the reel the line should not go through the two posts on the front of the reel. Rather, C4 tells us to pass the line through one of the side springs (see how line passed through steel spring and not posts on second photo).
Lastly, if you have not come across this yet, here is how you should properly wrap the mono on the Urukay:
C4 Carbon
Another hopefully useful advice. When I first got my 105, it took me a few dives to get used to shooting fish from double the distance I was used to. But once I got the range dialed in, I fell in love with the gun's power and precision. So much so I also got the 120. If you are used to classic euro tube guns, you may experience the same adjustment period.
Hope this helps.
Cheers,
Claudio