The Broncos captain on Monday said he could have played against the Storm, but the decision has been made to give him another week off to have his injured calf 100 per cent right for the first semi-final.
Reynolds, who won the 2014 premiership with South Sydney, will be rehabilitating his calf this week and working on a plan for the Broncos to beat the Storm at Suncorp Stadium for the first time since 2009.
If they do, a first minor premiership since 2000 will be Brisbane's reward.
"We are lucky enough be in this position. It is on our terms. If we win, we win it," Reynolds said.
"No doubt it would be great to have. I have never won (a minor premiership) in my career. It is a goal of mine.
"Unfortunately I won't be out there trying to get the job done. I will still have an involvement throughout the week in trying to game plan and help the boys where I can."
Both sides will be understrength with Brisbane's Pat Carrigan (foot) and Kotoni Staggs (suspended) unavailable. Melbourne will be without Jahrome Hughes (knee) and other players could well be left out in the coming days.
Reynolds, who missed the round 25 win over Canberra, said he would be fit and firing for the first final
"I could play this week but the coaching staff were pretty keen to rest me and get refreshed for the semis," he said.
"There is a little risk there with calves. It is never easy to predict how they are going to go but I've been working extremely hard behind the scenes with our physio and medical team to get back in the best shape possible.
"I will get through some more running through the week and get my loads up."
A win for the Broncos will set up another clash with the Storm in the first week of the finals.
"Unfortunately we don't have everyone on deck but we have players that have stepped up and done a great job for us in the absence of players not there," Reynolds said.
"This week will be no different and I am sure they will be looking to win their game as well. It sets us up for a great week after."
Reynolds said Carrigan was also confident of being fit for the first semi.
The Broncos halfback was speaking at a promotional event in his role an ambassador for the Australian PGA Championship which will be held at Royal Queensland in November.
He was deadly with his wedge, but it is the Broncos' pitch for the NRL title that is firmly on his agenda.