TOKYO, Dec 29 (IFR) - Japanese government prices mostly edged slightly lower on Monday as the Bank of Japan refrained from making any purchases under its massive asset-buying programme.

Market participants now widely expect the BOJ to buy 450 billion yen ($3.73 billion) of JGBs in the 1-year to 3-year zone, 450 billion yen in the 3-year to 5-year zone, and 400 billion yen in the 5-year to 10-year zone on Tuesday, the last trading day of 2014. Japanese markets will be closed until Jan. 5 for the New Year holiday.

Also on Tuesday, one large public pension fund is also expected to buy JGBs across the curve for its end-month duration adjustments, market participants said.

The yield on the benchmark 10-year JGB was flat on the day at 0.325 percent, not far from its record low 0.300 percent touched last week. The yields on the current 5-year, 20-year, and 30-year JGBs all inched up by 0.5 basis point to 0.045 percent, 1.070 percent and 1.270 percent, respectively.

Lead 10-year March JGB futures moved in a narrow 147.71-147.80 range in the morning session, and were last up 0.07 at 147.76.

($1 = 120.4900 yen) (Reporting by Masatsugu Hisatsune; Editing by Jacqueline Wong)