Spin valve Ni_0.85Co_0.15O/Co₈₅Fe₁₅/Cu/Co₈₅Fe₁₅ was manufactured by a RF magnetron sputtering system. M(H) and R(H) characteristics of the spin valve were measured in CIP configuration at room temperature has a magnetoresistance ratio of about 8% and a high exchange bias at room temperature. The current density and angle between the applied magnetic field and injection current were changed in an aim to observe their effects on MR and exchange bias of the spin valve. The current density and angle strongly affect MR and exchange bias. Both MR and exchange bias clearly decrease in dependence of the current density and direction of the magnetic field. It is supposed to be related with a current-induced spin torque in device.