We numerically and experimentally investigate reservoir computing based on a single semiconductor laser with optical feedback modulation. In this scheme, an input signal is injected into a semiconductor laser via intensity or phase modulation of the optical feedback signal. We perform a chaotic time-series prediction task using the reservoir and compare the performances of intensity and phase modulation schemes. Our results indicate that the feedback signal of the phase modulation scheme outperforms that of the intensity modulation scheme. Further, we investigate the performance dependence of reservoir computing on parameter values and observe that the prediction error improves for large injection currents, unlike the results in a semiconductor laser with an optical injection input. The physical origin of the superior performance of the phase modulation scheme is analyzed using external cavity modes obtained from steady-state analysis in the phase space. The analysis indicates that high-dimensional mapping can be achieved from the input signal to the trajectory of the response laser output by using phase modulation of the feedback signal.