I think you look great at 118, however it all depends on how you feel about your body, I've seen women who are 15 lbs over the minimum for your height and women 15 lbs under the minimum and they look great, if you can lose more without deprivation and it happens naturally and in a healthy way I don't see why not, there is a theory that everyone's body functions best at a genetically predisposed weight, it would take you a lot of extra effort to make the scale move past that number (this is not the same as a plateau) so if the scale continues to move down and you aren't putting your body through hell or deprivation, hey why not?