From the link.
New details about tri-Ace's latest RPG, Resonance of Fate, have surfaced, shedding some light on the game's battle system. As if resonating with the fate of most J-RPGs, RoF is your standard turn-based affair, though it does try to shake things up by blending in some potentially strategic damage rules and pseudo-real-time combat (think Eternal Sonata).
The way battles play out is a little something like this (as laid out by 1UP): the player chooses a party member and controls one character at a time. While in control of this character, a timer counts down signifying the duration of this character's actions, which include running around and shooting stuff up. Interestingly, enemies don't have their own individual turns; instead, they attack at the same time while the player's character is currently in action mode. This means enemies can only target the character that's currently being controlled.
Additionally, different damage types add to the strategic gameplay. There are two known types: direct damage, (which is a basic attack) and scratch damage (which is a weaker attack that allows HP to slowly regenerate). We're not sure how this all plays out, but we're assuming there might be more damage types to be discovered later, as the game seems to revolve around guns and ammo (possibly linked to ammo type?). Perhaps, we'll find out more at E3 next month. That is, if RoF shows up.
To me it sounds like it's turn based but only in the essence of choosing which character to play next and then doing real time combat once chosen, not like FF where you stay still.