The Gunners got off to a good start to the season and prior to the defeat away to Everton before Christmas, Arsenal appeared to be in good shape to mount a serious title challenge.
However, two consecutive defeats for Arsenal (away to Everton and Man City) and two victories for Chelsea meant that Wenger's side now find themselves nine points off league leaders Chelsea.
While many supporters believe that Arsenal need a change of manager, Wenger said that he is "immune from excessive reactions".
"I'm not immune to critics," he added. "But immune to excessive reactions, yes.
"I've been long enough in the job to put that into perspective as people who love the club, who are really disappointed on Monday morning and get their frustration out. We have to live with that.
"It doesn't mean they are not ready to change their mind if we win the next game".