Transmission Fluid Leak

[Polo Suafilo]

I have a beastly leak (see image) coming from the rear of my transmission and am hoping I could get a list of problems or areas that can be causing this. I just don't want to dig in this thing blind.

94 Explorer Sport
4.0 5speed Manual (M5OD?)

Forgive me if the image is to large

 

[MrQ]

Shift rail bushings. Get old and fall out leading to leaks. Most people replace them with hard plugs.

Manual Transmission Ford Explorer Maintenance