Do you have an ohmmeter? Troubleshooting by blowing fuses is not a very safe approach.
That said, lets do this as a starting point assuming you have an ohmmeter:
1. Remove the battery
2. Set the ohmmeter to the lowest scale
3. Unhook all connectors
4. Put the key in the ignition and switch to on, make sure all other switches are in a neutral position(blinker), low beam or off.
5. Put the ohmmeter between the BIKE SIDE (not the battery side) of the fuse holder and GROUND
6. Attach each connector and note if the resistance falls below 2 ohms. On connectors that lead to switches, toggle the switches while watching the ohmmeter before moving on to the next connector. (The engine stop switch WILL show a ground - 0 ohms - when pressed) (note - Connect the CDI last in this process.)
If you find a connector that drops your resistance below 2 ohms , your problem lies in associated wiring/components in that area beyond the last connector you attached - do step 2 listed below on only that connector.
Keep in mind the headlamp switch circuit will look like a very low reading with the bulb installed especially when switched to high beam, and will ride a little above the 2.4 ohm reading depending on bulb. If your resistance is falling close to 0 on this even with the light installed, this wiring is still suspect.
If not, do the following:
1. Unhook all the connectors once again, remove the key from the ignition
2. Check between each pin on every connector and ground (except wires that already lead to a ground point and these should be black)
If this still doesn't produce a noticeable result, I'd start suspecting the CDI as the source of the problem.
(Personal experience, things such as neutral switches, magneto wiring, kickstand switch, brake light switches... or anything else down low on the bike that catches more muck has a higher change of grounding out if the seals/sealant on those switches rot out and they are holding moisture). The magneto wiring and neutral switch wiring fall prey to heat over time and break down insulation.