Yes, it resets at 4 AM every Tuesday morning. I am wide awake overnight for years, and then do 10 Hests and 5 Dungeons on my new Archer early 20s job so I don't accidentally do 1 or 2 and waste XP on my 50 mage jobs. I can now complete it fully except for Treasure Hunt, since my gathering jobs are exactly tied at 35-36ish each.