While other commenters are right, you can't choose where the fat falls off, if you make significant weight loss, you should see an overall slimming of your figure, including hips and 'moobs.' I saw it happen with myself, and I only lost 35 lbs (16 kg). I went from around 183-5 to 148 lbs, and that was more than enough to see the moobs shrink. Granted, after binding for 7 months, they looked a little bit sadder and more droopy than I remember—but I started out with a much larger chest than you, around a 38-42D, depending on the bra.