That's an interesting example, as white arrow/arrows on blue in circle also exists, which limits (or otherwise indicates) the directions you can continue.
The one-way traffic sign does fit in, but most commonly you see it in situations where it's actually just informational, like the entrance of a road. In this case it doesn't limit you in any way, it's not like you have to enter that road. You will see a no entry sign on the other side of the intersection anyway, which does limit you. But it does inform you that you shouldn't expect oncoming traffic.
The horizontal one-way road sign is less common, and is often used in T-junctions. There it arguably does double duty.
It does mean that after entering that road you aren't allowed to turn around and go back, so there is a bit of a mandatory aspect there. Nevertheless I think it still fits best with the informational signs, also to separate it from the white arrow on a blue circle.
The one-way traffic sign does fit in, but most commonly you see it in situations where it's actually just informational, like the entrance of a road. In this case it doesn't limit you in any way, it's not like you have to enter that road. You will see a no entry sign on the other side of the intersection anyway, which does limit you. But it does inform you that you shouldn't expect oncoming traffic.
The horizontal one-way road sign is less common, and is often used in T-junctions. There it arguably does double duty.