Preface - This is a long shot as I don’t know 120’s…
My 90 240 with AW70 automatic transmission had a similar issue. In that car it was the transmission tailshaft bushing. This is located where the driveshaft bolts to the transmission. The rear tailshaft seal leaks ruining the rubber bushing. Can you tell where you feel the vibration? If towards the front of the driveshaft it could be the transmission mount or perhaps the tailshaft bushing if your car has one.
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Will I buy another Volvo??? We'll see....
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