It's coming out of the steering rack piston seals. It's probably not enough to notice from the reservoir and not a big deal.

 

Mine look the same and haven`t given me any trouble. They have been like that for several years now. The power steering level doesn`t change.

 

Mine has a similar amount as well. Though it seems like it has been dry for a long time.

 

Thanks all for the info. Well I guess I'll throw a steering rack on my "things I should probably due" list and keep monitoring the situation. My lower shaft looks like it was dunked in salt water for years so maybe I do it all in one shot. Steering has been smooth and no clunks or noises so that's good for now at least.

 

Mild seepage which doesn't result in reservoir level change is normal after 100k+ miles, just keep an eye on it. Most likely the leak won't get bad enough to need topping up the fluid until it starts leaving spots on the floor.

You didn't say what year your FJ is, but the '06~'09 steering racks have a rebuild kit you can buy from the dealer which includes all of the seals and bearings for ~$150. Part number 04445-35190.

'10~ FJ racks do not have a rebuild kit, are only available new. A new OEM rack goes for $600 or so.

Here is a link to a video which shows how to rebuild a Toyota rack. I did it a few years ago on a Camry, using this video as a guide, and it was pretty easy to do:

 

Of course I have a 2010 FJ (and 120k miles)
I appreciate the info, Norm. I just changed my steering fluid a few weeks ago too so that’s when I saw the seepage as I was underneath just doing general inspection.

On the topic of power steering, I believe Toyota calls for Dexron III fluid. I’ve read that Dexron VI is backwards compatible but they only mentioned in GM vehicles. Any fluid you specifically recommend? For the flush I went with Valvoline Dexron VI ATF, but then started to second guess myself after reading different threads..

 

The label ought to say on it somewhere, sometimes in tiny font, that it is compatible with DexIII.

When in doubt you can buy Toyota PS fluid from the dealer. I've noticed their prices for fluids and filters have become very competitive.