We consider traffic flows described by conservation laws. We study a 2:1 junction (with two incoming roads and one outgoing road) or a 1:2 junction (with one incoming road and two outgoing roads). At the mesoscopic level, the priority law at the junction is given by traffic lights, which are periodic in time and the traffic can also be slowed down by periodic in time flux-limiters.After a long time, and at large scale in space, we intuitively expect an effective junction condition to emerge. Precisely, we perform a rescaling in space and time, to pass from the mesoscopic scale to the macroscopic one. At the limit of the rescaling, we show rigorous homogenization of the problem and identify the effective junction condition, which belongs to a general class of germs (in the terminology of [6,21,37]). The identification of this germ and of a characteristic subgerm which determines the whole germ, is the first key result of the paper.The second key result of the paper is the construction of a family of correctors whose values at infinity are related to each element of the characteristic subgerm. This construction is indeed explicit at the level of some mixed Hamilton-Jacobi equations for concave Hamiltonians (i.e. fluxes). The explicit solutions are found in the spirit of representation formulas for optimal control problems.