The Buddhas hand gesture Abhaya Mudra shows the Buddha standing with his right hand bent at the elbow with palm facing outwards and fingers extended upwards at the level of the heart. The Abhaya mudra is rarely used alone and is often seen with the left hand representing another mudra. In the image below it is combined with the Varada mudra with left arm bent at the elbow, left palm facing outwards and fingers extended downwards.
The Abhaya mudra is the gesture of protection and stands for assurance, fearlessness, tranquility and protection given by the Buddha. It is almost always shown when the Buddha is in the walking or standing position and occasionally in the seated position.
The Varada mudra with the left hand bent at the elbow and palm facing outwards in the down position with fingers extended either up or down. This mudra also symbolizes compassion, granting of wishes, generosity and charity. It is the mudra of devoting oneself to the salvation of mankind. It is always used in combination with another mudra.
This combination of mudras in Japan is referred to as Segan Semui-in.
The figure of the standing Buddhas Hand gesture in Abhaya Mudra represents the incident of the attempted assassination of the Buddha by assassins at the instigation of Devadatta a cousin of the Buddha. Abhaya in Sanskrit means fearlessness.