Advance speed indicator Lf 6 showing 120 kph only for right-hand branch after junction. The 7 behind should not be an Lf 7 speed indicator but rather part of a kilometer/hektometer sign.
I think the arrow would be a different shape if it is indicating which running line the speed change applies to. As said this arrow is indicating a junction.
The ARROW shows that it applies to a branch. Signs are usually put on the right-hand side of the track in question. If the sign is to apply to a track right of it (i.e. where the sign is on the left-hand side), there would be a TRIANGLE pointing right.