[Fe/Ni]N multilayered structure grows epitaxially on the single crystalline MgO substrate. Due to the different directions of magnetic easy axes of Fe and Ni and the strong strain, large anisotropy dispersion is assumed. According to the layer model, the magnetization of Fe and Ni layers cannot follow each easy axis because of exchange coupling, and then the anisotropies are averaged out. The reduction of the effective anisotropy enhances with the decrease of periodic thickness. Thus, the coercivity of [Fe/Ni]N multilayers reduces with decreasing periodic thickness.