Hey my sister has a similar problem. This one is a form of spot reduction.You can try various techniques:
Exercising in one spot will NOT cause weight loss in that area, however, you could do some chest workouts such as flat bench press, inline bench, decline bench, dumbell press, and dumbell chest flies (EXTREMELY effective for me as it targets the inner chest muscles a.k.a pectoralis major) to FORM the area by building muscle underneath. It's like ceramics only you're using your muscles, not clay!
Some medicated techniques are mesotherapy, and lipo- something (involves an infrared laser that melts the fat under the skin by specific wavelengths. Try looking around on the web for other methods but first ask your doctor (ONLY if he/she is experienced and/or a GOOD doctor. I've had doctors that said I was fine even though I wasn't. I found one awesome one, flew to him, he found me as hypothyroidic and other hormonal imbalances such as low testosterone, I'm now losing fat, and now am becoming a professional bodybuilder!). Maybe your estrogen levels are TOO HIGH. I would recommend a thorough blood test to be administered so you can find any hormonal imbalances.
How are your breasts? Are they good but big? Or are they big and saggy? You mind sending some pics via email at mkab90@gmail.com? I can help decide what exercise is good for you by looking at how they are right now (no I'm not perverted if that's what you're thinking!). :)
I hope this helps somewhat and I know how you feel because I too have body issues (fat in unwanted area but leaner in others.) and couldn't find any help whatsoever until my cool doctor (HoltorfMed.com Dr.Kent Kofton Torrance,CA) fixed me up. But who cares? I'm now on track and need to lose maybe 20lbs. of fat from 267 lbs. and 5'11-6'0",I'll look really good, and I hope to become a professional bodybuilder because everyone at my gym is telling me I'm some natural muscle freak and can make it easy. They call me Triceps "Tri" King, "Beast", and "Sasquatch"!