This is a great alternative to stopping off at nearby Goosenecks State Park.

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To get there drive up the Moki Dugway a few hundred yards past the viewpoint close to the top and take the next dirt road on the left (heading west) towards Muley Point. It’s 5 miles on a wide, compacted surface to an overlook. The last few hundred yards are on slickrock so you may want to park at the side of the road and walk down. Here you can see the entrenched ‘gooseneck’ meanders of the San Juan River and Monument Valley in the south.  It's a similar view to that from Goosenecks but you see less of the river. Overall though, the added elevation here makes for more distant views. You're also likely to have place to yourself. And it's free!