you could use more monounsaturated fat, and a little less carbs, particularly if your goal is to lean out. although at 5'4" and 120lbs, you shouldn't need to lean out much. if you are 'chubby' right now, it sounds like you need to gain some lean muscle mass and lose some fat. you'll need some weights for that...don't worry you won't hulk out and look like a man!