A fishing reel comprises a crank, a spool connected to said crank, a pull-off brake mechanism and a chassis. Each memory element of the invention comprises a magnetic tunnel junction consisting of: a magnetic layer, known as the trapped layer, having hard magnetisation; a magnetic layer, known as the free layer, the magnetisation of which may be reversed; and an insulating layer which is disposed between the free layer and the trapped layer and which is in contact with both of said layers. The lift arm has a first end coupled to the upper frame and a second end spaced apart from the first end and coupled to the base frame.