Ferromagnetic (FM) FeCo is investigated in exchange bias systems. The ferromagnetic layer is grown on a FeMn antiferromagnetic (AFM) layer. Partial superficial oxidation of FeCo is observed. The standard field cooling procedure results in a large room temperature exchange bias effect. However, the training effect observed when the hysteresis loops are repeated does not have a saturating trend. This behavior is related to the evolution of pinned moments at the FM/AFM interface. X-ray circular magnetic dichroism technique is used to clarify this mechanism.