I lost my owners manual, and the haynes manual says mercon dexron Type V. The label on the Type V says 1996 and newer models. I have a 1992 explorer is Mercon dexron Type V the right fluid for me or should I use Mercon Dexron III?

you can use either. it's ok to use the newer stuff, it should be better for the tranny.

Great! Thanks Alec.