Sure. Although it would be significantly faster to simply reload IY with $5c3a once you’re done with it. A PUSH IY/POP IY combo is 4 bytes and takes 29 T states, whereas LD IY, $5c3a is the same 4 bytes taking only 14 T states.
I’m curious, do you really have to use both IX and IY in your code? Have you tried refactoring it to use fewer registers? I don’t know what kind of program you’re writing, but I’ve done some pretty complex coding and can only remember a handful of instances when I had to use IY. IX—sure (sparingly, though), but IY—almost never.