Is $NIKKEI's run overextending or just catching up?

Watching the $NIKKEI push past 69700 today, sitting around 69744.07, I can't help but wonder if this recent surge is becoming a little overextended. We've seen a solid +1.47% move today, topping out near 69788.03, and it's been a powerful few weeks. But when I look at the broader macro picture, and the yen's movements, I'm starting to get the feeling this isn't sustainable without a breather. Are we just seeing a play of catch-up to other global indices, or is this the kind of momentum that often leads to a sharp correction? I'm curious to hear if others are seeing potential catalysts for further upside that I'm missing, or if you're leaning bearish on its near-term prospects too. Push back on this thought.