yes there is, tap "special controls button" and use directional stick to decide direction as you're about to receive a pass. The difficulty of the ball-trapping, whether it's height, hardness of pass or that you decide to trap it and turn in a very un-logical direction is calculated, and the player agility, technique and in some cases acceleration depends on how successful it is. Jumping might be relevant on higher balls.
The very same button is used to tap passes that are a little too long, just before the defender gets it, and you receive a free kick or are clean through on goal if not tackled in many cases... hard to explain, but I want to make it clear that you can never use this button too often.
You can also use this button to attack a ball that looks like an opponent is going to trap, just charge in and press it to snap it up (especially on balls in the air) if you don't want to barge in and kick the ball with a pass or shot.
How can you guys not know this, and still find the game funny?
Anyway, there is an in-game explanation for almost everything you can do in this game. It's found somewhere in the menus, can't really remember where at the moment, but you'll find it quite easily if you look.
