A. What are the specs on your jeep?
B. You should really use jackstands before you crawl under your Jeep.
The underside of your Jeep looks a bit different from mine. I don't recognize that rounded metal pan thing. The part that appears to have a hole in it. The pan in front of it, above the exhaust pipe is obviously the oil pan, and the one behind is the transmission pan. I'm stumped.
The fluid could really be oil, trans fluid, or PS fluid. It could be flowing down from higher up on the engine.
1993 ZJ Limited 5.2 - no mods - Red with Gold (what were they thinking) trim.