Hi, I'm also 5'4" and weigh 179lbs at the moment, my goal is to reach 135lbs.
The information that I have checked out recommends the normal weight range for women who are 5'4" is between 118lbs-148lbs, this obviously depends on your frame size. I'm of medium build so I've opted for somewhere in the middle. But my final goal will depend on how I feel when I get there. Everyone is different so what suits one person may not suit another, I'm sure you'll know yourself what's right for you when you get there.
Hope this helps and good luck with your weight loss.