1. A computer implemented method for utilizing instruction trace registers, the computer implemented method comprising: associating an instruction trace register with a target processor register in a plurality of processor registers; executing an instruction associated with program code; determining whether or not the instruction updated a value in the target processor register; responsive to determining that the instruction updated the value in the target processor register, copying an address that identifies the instruction itself from the instruction address register into the instruction trace register that is associated with the target processor register, wherein the address of the instruction that is stored in the target processor register is also stored in the instruction trace register; and responsive to determining that the instruction did not update the value in the target processor register, executing a next instruction, wherein the instruction trace register remains unchanged.