It could be a few things, but the problem I'm having right now with mine is the air conditioning compressor. I think it may need to be changed but because of the cost I can live with the noise for a minute.
I just couldn't take it anymore, so I re-examined it and found that the problem was that a small clamp, the size of a washer was preventing me from tighten the belt. It's the size of a washer but open ended, it doesn't make a complete circle. Well, anyway you will see it. Because it doesn't side, you will think you have tightened the screw but inessence you want have. So, tightened up your (AC) belt. I've found that quite a few j30 have that same screeching sound.