Waaay too low... i had the same problem... The harness creeps up and pulls it back while wearing it...
What you need to do it only have about 1-1.5 inches of the jp straps showing to begin with before putting the pack on... Or literally just the buckle clip. Gravity will take care of the rest and pull the pack down to its proper height..
But its supposed to sit on the upper back, so that the peak of the rounded part on the pack is higher slightly or completely level with the raised collar on the back plate...
rasie it should be 1-2 inch hanging off. but it depends on where you have it connected on the pack. it looks pretty high also i can see the loop on the JP, so maybe try an inch?