The rivals meet at Goodison Park on Sunday for the first time since Arsenal won their FA Cup quarter-final tie 4-1 earlier this month and Howard knows they will not want for motivation for the Sky Live clash.
"We are looking forward to playing Arsenal," Howard said.
"We still have a sour taste in our mouth about what happened at the Emirates in the FA Cup, so we will try and put that right at home.
"Two weeks ago we were looking to catch Tottenham, now we are asking ourselves 'can we catch Arsenal?'.
"We're not favourites to finish fourth because the gap is still four points.
"It's in our hands because we have a game in hand and we have to play them, but they still have that four-point lead so it is difficult.
"We are on the outside looking in, but we are in the fight. If we could win next week and keep on their heels, that would be important for us."
Don't forget you can watch the game between Everton and Arsenal live on Sky Sports 1HD on Sunday April 6 from 12.30pm