yes. Or any photo. I've messed up trying.
Actually I do it the easy way by pasting the graphic into Front Page and then inserting the HTML code into the post.
A Graphic can be inserted with code like...
[img src="http://store2.yimg.com/I/iqkids1_1740_9169407"]
use "<" and ">" instead of "[" and "]" and you get...