Not to throw water on your desire but that is just over 13% of your total body weight. Are you sure that you can safely make that cut? Have you talked to your coach about ways to lose weight or told him that you are planning on dropping to 103? Why not wrestle 112?

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yeah... 120 to 103 is probably not a good idea... it can be done, but... I wouldn't suggest it

You are growing.....you'll likely grow 5-10 pounds during the season......cutting that much is a BAD idea. Better to train hard, learn technique, get stronger and let your body decide where it is going to end up. IF you can't make the varsity this year, enjoy JV competition this year and worry about Varsity later.
I'm an old dude. We used to cut that kind of weight. We only weighed in once per week.....friday at 3pm. By Saturday afternoon, I"d be up 8-10 pounds and Monday I'd have to look forward to losing 12 pounds by friday again....by wearing a rubber suit 24/7, not eating most of week.....not drinking friday.......sitting in hot tubs of water covered with wet towels drapped on a folding chair..........it is NOT a good idea and definitely not healthy IMO.
Read up on Ray Miller of ASU. He was a multiple time state champ, 4 x AA and NCAA champion(undefeated)...............and he was known for NEVER cutting weight

I wrestled 98, 105, 112 and 119 in highschool. I never made more than a 5-7 lb cut. Technique, heart and mat intelligence can get you to where you want to be without that drastic of a cut.

I had more success my senior year when I decided that I didn't want to cut weight. I hit the weight room hard, and drilled non-stop. I was able to eat and had way more gas than most of the guys that I wrestled. I now encourage all my wrestlers to work hard and to wrestle at a natural weight.

I think cutting 5-7lbs as a middle weight is fine. It forces you to have self discipline but doesn't detract from what should be going on: learning.

"A hungry lion hunts best"

Unfortunatly if you cut that much weight, you will find yourself to by smaller, weaker, slower and gassed out. You will focus on how to cut weight rather than how to wrestler more efficiently. If you 'know its BAD", you know that you shouldn't do it, right?