To find it precisely, you'll need to:
1. Consult a repair manual: A Haynes or Chilton manual specific to your 1988 Ford vehicle with the 2.9L engine will show you a diagram with the exact location. This is the most reliable method.
2. Look underneath the vehicle: The sensor is usually threaded into the exhaust system. It's a relatively small cylindrical component with a single wire harness connector. You'll likely need to use a jack and jack stands for safe access.
3. Trace the wiring: The oxygen sensor wire will run from the sensor to the engine's computer (ECU). Following the wire from the connector might lead you to the sensor itself.
Important Safety Note: Exhaust systems get very hot. Allow the engine to cool completely before attempting to locate or replace the oxygen sensor. Wear appropriate safety gear, including gloves.