Thoughts on Nikkei's 38,000 Level

Been watching the Nikkei ($N225) pretty closely around the 38,000 mark. It's been acting as a pretty significant resistance point, tested it a few times now without a convincing break. My read is we might see some further consolidation or a pullback if it can't hold above this area soon. A clear daily close significantly above 38,500 would invalidate that scenario for me, suggesting more upside.