Question 300283
First, convert to y=... equation.
{{{8xy = 7}}}
{{{y=7/(8x)}}}
There is a discontinuity at x=0 where the function is undefined. 
Other than that, choose x values, calculate y values and then plot (x,y) pairs.
x=1/2, y=7/4
x=1, y=7/8
x=2, y=7/16
x=3, y=7/24
x=4, y=7/32
x=-1/2, y=-7/4
x=-1, y=-7/8
x=-2, y=-7/16
x=-3, y=-7/24
x=-4, y=-7/32
{{{drawing(300,300,-6,6,-6,6,grid(1),
circle(1/2, 7/4,.15),
circle(-1/2, -7/4,.15),

circle(1, 7/8,.15),
circle(2, 7/16,.15),
circle(3, 7/24,.15),
circle(-1, -7/8,.15),
circle(-2, -7/16,.15),
circle(-3, -7/24,.15),
circle(-4, -7/32,.15)
)}}}
.
.
.
Now sketch the function using those points as guides. 
The more points you use, the smoother your graph will be. 
.
.
.
{{{drawing(300,300,-6,6,-6,6,grid(1),
circle(1/2, 7/4,.15),
circle(-1/2, -7/4,.15),

circle(1, 7/8,.15),
circle(2, 7/16,.15),
circle(3, 7/24,.15),
circle(-1, -7/8,.15),
circle(-2, -7/16,.15),
circle(-3, -7/24,.15),
circle(-4, -7/32,.15),
graph(300,300,-6,6,-6,6,7/(8x)))}}}