Ex-Castleford Tigers player Reynolds, 25, joined Trinity from Leigh Centurions in the autumn but has yet to feature for Chris Chester’s side in Super League.
He faces stiff competition from captain Jacob Miller and former Man of Steel Danny Brough at Belle Vue but hopes to make his mark back in the Championship.
Featherstone had signed Huddersfield Giants playmaker Tom Holmes on loan but they are still awaiting him to return to full fitness.
Goal-kicker Reynolds comes straight into contention for Sunday’s visit of unbeaten Sheffield Eagles adding further options alongside Papua New Guinea international brothers Watson and Ase Boas.
“For me it’s just about getting out there and proving myself to Wakefield, Featherstone and everyone else,” said the player, who can also operate at full-back.
“I hope I can come straight into the team this weekend.
“I’m ready to play and I’m raring to go.”
Featherstone head coach Ryan Carr added: “He’s a really quality player with a lot of experience in Super League and the Championship, so I’m excited to get to work with him.
“His direction and leadership will be huge for us and his knowledge of this competition will help the other players in team.”
Wakefield’s Reserves home game against Bradford Bulls tonight has been postponed.
Meanwhile, Leeds Rhinos are without captain Kallum Watkins for Friday’s trip to Hull FC.
The England centre suffered a brusied knee in last week’s loss to Wakefield and has been unable to run pain-free since.
Depending on how he responds to treatement, Leeds hope to see Watkins return when London Broncos arrive at Headingley next Friday.
Coach Dave Furner has named Carl Ablett in his 19-man squad for the first time this season and full-back Jack Walker is also set to return at Hull after missing last week.
Hull, meanwhile, have included Scott Taylor after the club successfully argued a Reserve Grade game against Wakefield should count towards the England prop’s three game ban.
Ex-Leeds star Gareth Ellis is also named with Jamie Shaul.