I believe "Boys Love" is the more common term in Japan, since "BL" is often used as the short hand for it. Actually, in the Japanese version, it says "BL" in that bubble with "boys love" as furigana.
According to the sources that Wikipedia links to, Yaoi was originally used for doujinshi in Japan.
In the west, Yaoi is the umbrella term for M/M. It's similar to how in the west people use (or used) the term "shoujo-ai" for "Yuri" while "Yuri" was basically only used for F/F hentai, while in Japan that term is non existant. Different connotations in different locations.