The answer is yes, but there are a few things to remember. First, 2x4s are thick pieces of lumber, so you must use a blade with a large teeth count to get through the wood. Secondly, since 2x4s are so thick, they will take longer to cut than a thinner piece of wood. Finally, you will need to use a steady hand when cutting the 2x4, as the blade can easily wander off course if you are not careful.