Defeat to London rivals Tottenham Hotspur on Sunday was the fourth defeat of the season for Wenger's men, and his side is languishing in 15th place—below the three newly promoted teams: QPR, Swansea and Norwich City.
Arsenal find themselves already 12 points behind the two front-running Manchester teams and Wenger concedes that the title is more or less out of the reach of his team.
Speaking to Sky Sports, the Frenchman said:
At the moment we have to set ourselves a realistic target to get in touch with those teams who are fighting to stay in the Champions League. To say we will win the league is not realistic.
We lack a little bit of confidence at the moment and just want to protect our result too much when we have one.
While most managers would likely lose their jobs after a comment like that, the seeming non-reaction to this statement is another indication that Arsene Wenger's place at Arsenal is secure.