I thought that would be the case but I still didn't want to give you the answer directly xD For the cannon jutsu list, you'll only find paralysis and visual based genjutsu. Doujutsu based genjutsu and elemental genjutsu tend to start blurring the lines or more directly affecting specific senses.
So for this jutsu, you'd call it a visual genjutsu as it only effects what your target sees, so long as the activation condition is met (the condition being that they are moving).
While you are correct as to how you'd break the genjutsu, you first have to logically deduce that you are in a genjutsu. There are two ways to do this: using information gained through your senses (sight, touch, sound, taste, smell) and even common sense, to reason you are under an illusion. With Canon genjutsu, this is slightly easier to work out In-Character as they will mostly have an easy 'tell'. For this genjutsu, you'd use common sense and notice you aren't actually getting any closer to your target or a specific landmark.
Sharingan users have an advantage when coming up against a genjutsu. They can use the above method to logically deduce genjutsu to use as a reason to check their chakra flow. Under a genjutsu, a persons chakra flow is distorted and irregular, thus it would be confirmation of being under a genjutsu. Then you could release the genjutsu via any release method you'd like.
The Sharingan also allows you to, once deduced (which is very easy for a sharingan, as the eyes can pick up on all the visual inconsistencies with the visual illusion) passively break out of certain ranked visual genjutsu. Passively meaning you won't have to spend a jutsu slot to break the illusion.
1T sharingan can see through and break d-rank genjutsu, 2T can see through and break C-rank genjutsu and 3T can break b-rank genjutsu. I'll again stress, this only applies to visual genjutsu. MS Sharingan allows you to break A-rank and EMS allows you to break S-rank genjutsu.
You might also consider reading through
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as it details quite a bit about Genjutsu in our RP.