Suppose such a function exists, i.e., a bijective function $f: \Bbb R \to \Bbb R^2$ with a continuous inverse. By translating, i.e., defining $g(x) = f(x) - f(0)$, we have another continuous function $g$ that is one-one, onto, with a continuous inverse. This is easy to check;
- Suppose $g(x) = g(y)$. Then, $f(x) = f(y)$ is immediate. We have $x=y$.
- Let $(p,q) \in \Bbb R^2$. Consider the point $f(0) + (p,q) \in \Bbb R^2$. As $f$ is onto, there exists $x\in \Bbb R$ with $f(x) = f(0) + (p,q)$. Thus, $g(x) = (p,q)$.
- As $g$ is bijective, its inverse exists. Moreover, $g^{-1}(p,q) = f^{-1}(f(0) + (p,q))$. As $f^{-1}$ is continuous, so is $g^{-1}$.
In other words, it is safe to assume $f(0) = (0,0)$.
As you suggest, let's consider the restriction map $f: \Bbb R\setminus\{0\} \to \Bbb R^{2}\setminus\{(0,0)\}$. This restriction map is one-one, onto, and continuous with a continuous inverse. $\Bbb R^{2}\setminus\{(0,0)\}$ is connected, but $\Bbb R\setminus\{0\}$ is not. As connectedness is preserved by homeomorphisms, this is the desired contradiction.