Lightning rod is a device used to protect buildings from lightning strike, which plays a protective role by introducing lightning into the ground. If your balcony is facing the lightning rod, then lightning may enter your home through the lightning rod, thus causing damage to your home. In addition, lightning may enter your house through the wires around the lightning rod, thus causing damage to your house.
Therefore, I suggest that you try to avoid facing the lightning rod on the balcony when decorating. If it is unavoidable, I suggest you install lightning rods around the balcony to protect your house from lightning.