Answer
$(\pm\sqrt2,\pm\sqrt2)$
Work Step by Step
Let $1/x^2=a,1/y^4=b$
Then our system of equations is:
$\{4a+6b=3.5, a-2b=0\}$.
Adding three times the second equation to the first one, we get:
$7a=3.5\\a=0.5$
Plugging this back into the first equation, we get:
$4(0.5)+6b=3.5\\6b=1.5\\b=0.25$
$x^2=1/a=2\\x=\pm\sqrt2$
$y^4=1/b=4\\y=\pm\sqrt2$
Hence, the solutions are: $(\pm\sqrt2,\pm\sqrt2)$