I do this for my home network. I have an SRX300 with a WAN interface receiving an IP from my ISP and a LAN interface configured as 10.0.5.1. My AP, connected to that interface, is 10.0.5.2. Clients that connect to the AP receive a DHCP address from the SRX, not the AP. Of course, you could configure dhcp services on the AP. I chose not to for easier management and monitoring.
This is a very common scenario and will surely work. The AP simply acts as a bridge between the wired and wireless networks.
Do you see any challenges in this or facing any issues?