Yep. It will fit just fine. I know this only because, when I got my rims powder coated, and the shop ordered and put new Evo Dragons on, they mistakenly orderd the 120/70 instead of the stock 120/60. Now, I did not realize this until I got home, and we had re-installed the wheel. Not wanting to disassemble the bike all over again, I am stuck with them. Just know (from what I have been told) the 120/70 will definately alter the way the bike turns, and the 120/60 will be much easier to turn, while 120/70 will take more effort.
I did get out on Friday for the first ride on the new rubber, and did not notice a huge difference in turning, but then again, I was toolin around town, not ridin the twisties.