Nanocomposite Pr7.5Dy1Fe71Co15Nb1B4.5 ribbons were prepared by melt-spinning and subsequent annealing. Interaction domains were imaged using magnetic force microscopy (MFM) because of strong exchange coupling between hard and soft magnetic grains. Coercivity was determined by exchange coupling pinning field. But the magnetization reversal of nanocomposite magnets were different from that of traditional single phase permanent magnets.