What applies at this junction?

Your answer is correct because the sign shows a "Yield" (Give Way) sign combined with a bicycle crossing marked by the red surface with bicycle symbols. The main rule here is that you must first yield to the bicyclists crossing the junction before you can cross it yourself.

Once it is safe and the bicyclists have passed, you are allowed to cross the junction. Turning right or left is not mandatory here; the key point is to give right of way and then proceed straight if it is safe.

In summary, the rule is: Yield to bicyclists on the marked crossing and then cross the junction when it is safe to do so.