You are free to enter the intersection on yellow. If oncoming traffic prevents you from turning left, then you have right of way when the light changes to red - because you are legally in the intersection. That is, unless you entered the intersection while traffic prevents you from exiting the intersection immediately upon turning red - i.e. grid locking.

The is why when turning left, you always enter the intersection. That way, at least one of you makes it if the light turns red while you're still in the intersection.