Yes, but you must be ok with double discounting a product and they must be set up a certain way.
If you set up a Product Discount offer before adding the product to Quantity Breaks price discount: the latter will base its product discount tiers off of the discounted product price set up in Product Discount.
If you set up a Quantity Breaks price discount before adding the product to a Product Discount offer: the latter will discount all of the variants created by Quantity Breaks. This means that every price discount level set up by Quantity Breaks will have the discount applied to them.
Here's a scenario of how it would happen:
You have an item that is $100 with a quantity break price of of Buy 2 or more get 10% off. So if you buy one it will be $100 but if you buy 2 they will be $90 each. Now let's say you put on a 20% sale with Product Discount. The item will now be $80. If a customer adds 2 or more to their cart they will be $72 each ($80 - 10% = $72).
All the prices get adjusted but sometimes the quantity breaks table that displays the grid doesn't reflect the new sale prices. To fix this all you need to do is just re-sync that quantity break group. To do that you just find the quantity break group affected by the sale and then just click "Edit" and then "Save". Done! That will refresh the tables and you're good to go.