A magneto-resistive element according to an aspect of the present invention includes a free layer whose magnetized state changes and a pinned layer whose magnetized state is fixed. The free layer comprises first and second ferromagnetic layers and a non-magnetic layer which is arranged between the first and second ferromagnetic layers. An intensity of exchange coupling between the first and second ferromagnetic layers is set so that an astroid curve in a hard axis direction opens.

 
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