Your ping shouldn't be that high. Mine is 60ms to anywhere in the USA.
Are you playing on wired? If not, play on wired connection only, no wi-fi. Wi-fi will increase your ping by a lot.
Do you port forward? Forwarding ports helps immensely as it allows you to connect with a larger group of people.
What is your bandwidth?
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Prior to the release of the taken king came update 2.0 I had no connection issues. Since this release which sets up code for the Take king it has caused redline or poor service indications to the Player vs Player (pvp) portion of the game. I have played the game without prior issue Since the alpha release. I worked with my Internet Service Provider (ISP) Netgear my router mfg, Port Forward software techs along with all the networking information from bungie and Psn. I do not run anything else during game play. I have checked and rechecked my connection and hardware and no one found any fault. I have been hardwired, port forwarded sine vault of glass. I deleted and redownloaded 18gb tkk,. Lest weekend an engineer at Mt ISP spent his own time setting up changes to hold the ping more stable but week 1 plus 2 days of ban there is no way to check, I have talk to several players with higher and lower bandwidth all with the same problem which started at 2.0 I paid to increase speed the fist day I saw the red bar with no help. i