A magnetic sensing element and exchange coupling film is disclosed. The magnetic sensing element has a free magnetic layer, nonmagnetic material layers disposed on the top and bottom of the free magnetic layer, pinned magnetic layers disposed on the top of one nonmagnetic material layer and on the bottom of the other nonmagnetic material layer, and antiferromagnetic layers containing IrMn disposed on the top of one pinned magnetic layer and on the bottom of the other pinned magnetic layer. The magnetization of the free magnetic layer is aligned in a direction orthogonal to the magnetization direction of the pinned magnetic layers. The exchange coupling film is formed by the antiferromagnetic layer and the pinned magnetic layer above the free magnetic layer. At least an interfacial portion of the ferromagnetic layer which is adjacent to the antiferromagnetic layer contains Co.sub.100-xFe.sub.x wherein 30%.ltoreq.x.ltoreq.90% in atomic percent.