Magnetoresistance was studied for the ferromagnetic tunneling junction in $Permalloy/Al_{2}O_{3}/Co$ prepared by evaporation in a vacuum of $1{ imes}10^{-6}$Torr. We measured voltage-current characteristic and magnetic valve effect of prepared ferromagnetic tunneling junction sample. We investigated field-dependency of tunnel resistance by Wheat-stone bridge method and measured magnetic hysteresis curve by vibrating sample magnetometer. The tunneling is confirmed by measuring voltage-current characteristic. The hysteresis curve of magnetoresistance corresponds well with that of magnetization. The magnetoresistance ratio ${Delta}R/R$ is 0.6% at room temperature.