A magnetoresistive effect element includes a first
magnetic layer, a second
magnetic layer, and a first spacer layer. The first
magnetic layer has an invariable
magnetization direction. The second magnetic layer has a variable
magnetization direction, and contains at least one element selected from Fe, Co, and Ni, at least one element selected from Ru, Rh, Pd, Ag, Re, Os, Ir, Pt, and Au, and at least one element selected from V, Cr, and Mn. The spacer layer is formed between the first magnetic layer and the second magnetic layer, and made of a nonmagnetic material. A bidirectional
electric current flowing through the first magnetic layer, the spacer layer, and the second magnetic layer makes the
magnetization direction of the second magnetic layer variable.