Yes, as a) two Yuds do not really have Kedusha. b) they certainly have no kedusha when written as part of a word and not for Hashems name.
See Rama Y.D. 276:10; Shach Y.D. 276:14; Pischeiy Teshuvah 276:16; Tashbeitz 1:177; Sdei Chemed Kuntrus Beir Besadaiy; Igros Moshe Y.D. 1:172; 2:138; Ginzei Hakodesh 7:10 and 28

Shulchan Aruch HaRav | May one wear a necklace in a bathroom that has two yuds written as part of a word, not part of Hashems name?

Yes, as a) two Yuds do not really have Kedusha. b) they certainly have no kedusha when written as part of a word and not for Hashems name. See Rama Y.D. 276:10; Shach Y.D. 276:14; Pischeiy Teshuvah 276:16; Tashbeitz 1:177; Sdei Chemed Kuntrus Beir Besadaiy; Igros Moshe Y.D. 1:172; 2:138