Thoughts on Nikkei's recent push towards 40k

Hey everyone, been keeping a close eye on the Nikkei lately and it's certainly had an interesting run. That push towards the 40,000 level has been pretty decisive, but I'm starting to see some signs that suggest a bit of caution might be warranted for the short to medium term. From a pure technical perspective, we've had a strong move, but the velocity has me thinking about potential exhaustion. I'm looking at the RSI on the daily chart, and it's been pretty elevated for a while now, showing some signs of divergence with price in the last few sessions, which often precedes a consolidation or pullback.

My scenario is that we might see a healthy correction or at least a period of sideways consolidation before any further significant upside. The immediate support I'm watching is around the 38,500 area. A clean break below that, particularly on decent volume, would really solidify my concerns about a deeper retracement. Of course, the risk that invalidates this view is if we just power through 40,000 with conviction and new highs, which is always possible with this kind of momentum. Just thought I'd share my two cents; always keen to hear what others are seeing.