Suppose we're given $f(x) = 120 +20 \sin(2\pi x)$. The question is to draw a diagram of this function for $x\in [0,1]$ (give or take). Would you consider the diagram below to be correct? (I.e. with the $x$-axis at $y=120$.)
The question is of course: Is it a convention or a rule that the $x$-axis is the line $y=0$ and that the $y$-axis is the line $x=0$?
(Please imagine that I labled the axes $x$ and $y$.)
Personally, I would say that the diagram is fine. There's no ambiguity and no mathematical erros (as far as I can tell).
Your diagram is fine !
$x$- axis: $\{(x,y) \in \mathbb R^2: y=0\}$,
$y$- axis: $\{(x,y) \in \mathbb R^2: x=0\}$.