Yes, you can draw a circle on a graph using point data and the axis in Microsoft Excel. Here are the steps:

1. Enter your data points (x,y) in two separate columns in Excel.
2. Select the data points and click on the "Insert" tab in the ribbon.
3. Click on "Scatter" in the "Charts" section and select the scatter chart type you want to use.
4. Right-click on one of the data points in the chart and select "Add Trendline".
5. In the "Format Trendline" pane, select "Polynomial" as the trendline type.
6. Set the order to "2" and check the "Display Equation on chart" and "Display R-squared value on chart" boxes.
7. Close the pane and right-click on the trendline in the chart.
8. Select "Format Trendline" and go to the "Line Style" tab.
9. Set the line color and width to your preference.
10. Go to the "Marker" tab and select "None" for the marker type.
11. Close the pane and you should see a circle plotted on your chart based on the data points you entered.

Note: The equation displayed on the chart is the equation of the circle in standard form, which you can use to calculate the intercepts and radius of the circle.