You look like a person that suffered from the pubertal gyno during your teen years? Is this correct?
I think it may be a combination of both fatty tissue and pubertal gyno. This is what I would do:
Mr. X had a great Nolvadex plan here not too long ago using high doses to offset/shrink and/or hopefully eliminate some gyno that people develop. Try using high doses of Nolvadex with an aromatase inhibitor.
I'd go 80mg of Nolvadex per day along with either Aromasin or AIFM and see how that works out.
Add YES as a topical fat burner to your chest/nipple region to help mobilize fatty tissue even more.
You may want to go on a hypocaloric diet for the time being so that fat loss will be at its optimal stage. Nothing too drastic, keep protein up and just don't shove too much down the pie-hole

I'm just giving a simplified version here so don't hound on my ass that I didn't give enough detail, I know that already. I'm just throwing some ideas out there for ya.
Throw in an effective fat burning supplement or E/C stack. There are tons to choose from. The board sponsors have some great products, so just choose one and see how it goes. If you are sensitive to agitation or get too adrenergically stimulated using most compounds or supplement stacks, then try something like Levorex by AF. Green tea is awesome as well. I really like Sesapure by AF. A quality r-ala product could enhance things even more.
Change up your workout routine every week, or better yet, every workout.
BMJ