Seismic imaging techniques such as elastic full waveform inversion (FWI) have their spatial resolution limited by the maximum frequency present in the observed waveforms. Scales smaller than a fraction of the minimum wavelength cannot be resolved, and only a smoothed, effective version of the true underlying medium can be recovered. These finite-frequency effects are revealed by the upscaling or homogenization theory of wave propagation. Homogenization aims at computing larger scale effective properties of a medium containing small-scale heterogeneities. We study how this theory can be used in the context of FWI. The seismic imaging problem is broken down in a two-stage multiscale approach. In the first step, called homogenized full waveform inversion (HFWI), observed waveforms are inverted for a smooth, fully anisotropic effective medium, that does not contain scales smaller than the shortest wavelength present in the wavefield. The solution being an effective medium, it is difficult to directly interpret it. It requires a second step, called downscaling or inverse homogenization, where the smooth image is used as data, and the goal is to recover small-scale parameters. All the information contained in the observed waveforms is extracted in the HFWI step. The solution of the downscaling step is highly non-unique as many small-scale models may share the same long wavelength effective properties. We therefore rely on the introduction of external a priori information, and cast the problem in a Bayesian formulation. The ensemble of potential fine-scale models sharing the same long wavelength effective properties is explored with a Markov chain Monte Carlo algorithm. We illustrate the method with a synthetic cavity detection problem: we search for the position, size and shape of void inclusions in a homogeneous elastic medium, where the size of cavities is smaller than the resolving length of the seismic data. We illustrate the advantages of introducing the homogenization theory at both stages. In HFWI, homogenization acts as a natural regularization helping convergence toward meaningful solution models. Working with fully anisotropic effective media prevents the leakage of anisotropy induced by the fine scales into isotropic macro-parameters estimates. In the downscaling step, the forward theory is the homogenization itself. It is computationally cheap, allowing us to consider geological models with more complexity (e.g. including discontinuities) and use stochastic inversion techniques.