Not exactly
To do it properly, it's like
j'uis (p. shwee) d'accord.
Two main contractions of je suis are used; one is pronounced as above, and the other is pronounced shu. Which one you use is dependent on the phoneme that follows the je suis.
So, je suis en emmerdeur (I am in the shit) is pronounced (more or less) shu on emerduur.
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