Yes!
When you show absolutely no jealousy, your partner might perceive that as a sign of total desinterest.
They can interpret that as "You don't care!".
It highly depends on their character and their own power level.
Not expressing jealousy at all if you can and if your relationship or security is not threatened is definitely the way to go, but...
If she needs it, showing her playfully that you can play the jealousy game validates her as well - She thinks: "he is ready to fight for me! I like that!"
Being jealous when it is appropriate is usually ok as long as she doesn't see you enslaved by an emotion you don't control.
http://vitalcoaching.com/jealousyformen.htm