The Nikkei 225 index in Japan has been experiencing fluctuations recently. It broke above 40,000 for the first time last week, but not all stocks are participating in the rally. There are concerns about overpricing and potential policy shifts by the Bank of Japan. Traders are closely watching the BOJ's March meeting for any announcements that could impact the market. Despite recent declines, there are hints that the market could rebound, with some suggesting it's not too late to buy into the Japanese stock market.