Hi Oliver,
Take it out and have a look! If the clouds are clear this weekend, you will be able to see Jupiter, and you will be able to look at the moon when it begins it's cycle next week. in the western sky in the evening. This is quite a change from your original idea in your opening thread
here.
With this aperture (127mm or 5") you will struggle to much more than a very small disc of Jupiter. but you will see the 4 inner moons, Io, Ganymede, Europa and Callisto.
Saturn will not be visible now until next year.
You will only be able to see the brightest of the deep sky objects.
As was explained to you in your previous thread, magnification is not the important factor when using a telescope. Aperture, or the size of the main mirror is the most important thing to consider. The bigger the mirror = more light that falls on the mirror = brighter image.
Good luck.
p.s. this site
here has a telescope simulator for you to get an idea on how big some objects will appear to you.