I'd say that depends entirely on where the fire is coming from...

Well, if the fire was coming from an arc anywhere near the photographer's position, he is completely exposed, and rounds hitting the bucket could deflect into his body. If he is expecting fire or an assault from behind him, from the direction his fellow soldiers seem to be looking, then he is absolutely out of position to be of any use at all, as he can neither see nor fight.

Of course, a photo is just a split second of time, and it is quite possible that this photographer snapped the picture as this soldier was moving from another position.

From the positioning of the other soldiers, it would appear that he was in the right location for taking fire.

Also, after enlarging the picture, I noted that the soldier in the "loader" actually appears to be clearing a jammed weapon or reloading. The right side of the weapon clearly has his attention. Note the position of his head relative to the weapon. I would say the fire is coming from the left side of the photo, somewhere between the buildings--in relation to the two soldiers by the rear tire. The one on the outside is looking towards the direction of the fire, while the other has his had on his shoulder and is looking to their right (either at other units or perhaps making sure there is no threat in that direction.

Personally, that's my take on the photo. I seriously doubt that the photographer has his side or back to the fire. I believe the source of any fire is behind the front-end loader (from the photographer's perspective).

if the fire was coming from an arc anywhere near the photographer's position, he is completely exposed

...and the photog is taking rounds in the back and head.

What everyone else said. The fire is coming from the direction the two kneeling soldiers are facing (probably someone firing from between the trucks in the background or some other hidey-hole out of the range of the camera), and it looks like the person in the bucket is frantically working to re-load or unjam a weapon. Also once he's done doing whatever it is he's doing, he would be in good position to provide cover for the two kneeling who are exposed.

On another topic, it would suck to operate that end loader with all the armor. I'ts hard enough to see what you're doing when the cab is mostly glass.