Slight Clanking sound when shifting

My 95 accord, auto, is making this slight clanking sound usually when going from 2nd gear into 3rd and also when slowing down at low speed, like when almost comimg to a stop. It doesnt do it all the time only at low speeds when I release the gas pedal before it automatically shifts gears. The tranny feels very smooth and doesn't seem to have a shifting problem. Today I had the car in park and slowly shifted to reverse and to d4 BACK AND FORWARD and it was making a similar sound. I asked a mechanic about it and without even checking he was guessing it was a tranny issue. Could this be the case? Could it have something to do with the exhaust?

It could be a loose heat shield.

My guess would be exhaust or motor mount issue. Auto trannies don't generally make clanking sounds, usually ratcheting or grinding sounds, and that's when they are ready to expire and already not working right...

Other noises like you describe are usually related to the way the driveline pitches when the torque load on the driveline changes, like during shifts or initial engagement, or going from acceleration to coasting...the motor rolls fore and aft on the mounts, and a roll restrictor limits motion.

A broken mount or bad restrictor can allow for excess movement, or movement along an axis that is not normal, resulting in clank and thump type noises...and exhaust shields as mentioned are prime candidates on Hondas for noises, as the exhaust gets rocked back and forth with the motor. Usually exhaust shields produce tinny buzzes at specific rpm ranges though, but not always...

i would agree with coslacker on the motor mount issue or exhaust. If you can get someone to be under the hood or listening under the car (put parking brake on!) and put the car in drive, reverse etc and get them to try and pinpoint a location.

However from what you described and the transmission is shifting smooth I wouldn't think it is the transmission.